Freestanding QSR
For Sale
$2,087,723
4650 University Dr, Evansville, IN 47712
Freestanding QSR with a drive-thru and a corporately guaranteed absolute NNN lease featuring renewal options.
Property Size3,263 SF
Price / SF$639.82
Days on Market132
Property Features for 4650 University Dr
General Information
Standard status
Active
Size
3,263 SF
Property subtype
Restaurant
Lease Type
NNN
Additional Details
Lease Term
90 months
Cap Rate
6.25%
Traffic Count
28,664 vehicles/day
Amenities
7.5 Years Remaining on Freestanding QSR with Drive Thru | Arby's Restaurant Group (Inspire Brands) Corporately Guaranteed Absolute NNN Lease with Three, Five-Year Renewal Options
Strategically Located in West Evansville's Main Retail Corridor Along Lloyd Expressway, the City's Main Thoroughfare with Exposure to a Combined 28,664 Vehicles Per Day
Only 2.5 Miles from University of Southern Indiana Main Campus, a 1,400 Acre Campus with 9,286 Student Enrollment
Building Details
Building Size
3,263 SF
Tenancy
Single
Listing Agency:
(317) 218-5325
Listed By:
Madison Harman · License #License(s): IN: RB14052326
(317) 218-5325
Source:
Marcusmillichap
Added: Apr 3
Changed: Aug 7
Last Checked: Aug 11 at 4:42AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Madison Harman
Investment Insights
Based on property information with market context.
Freestanding QSR with a drive-thru configuration, offered for sale on an absolute NNN basis. The lease is corporately guaranteed by Arby’s Restaurant Group (Inspire Brands) and includes three, five-year renewal options, with 7.5 years remaining. Rental increases are scheduled at eight percent every five years and within the renewal options.
The property is positioned in West Evansville’s main retail corridor along Lloyd Expressway, described as having exposure to a combined 28,664 vehicles per day. The asset is surrounded by national retailers including McDonald’s, Chick-fil-A, Walmart, Home Depot, Lowe’s, Shnuck’s Grocery, Aldi, Kohl’s, Starbucks, Chipotle, Culver’s, Verizon, T-Mobile, Olive Garden, Panera Bread, CVS Pharmacy, Taco Bell, O’Reilly Auto Parts, AutoZone, and Valvoline.
The site is located near University of Southern Indiana’s main campus and across from Progressive Health headquarters and medical offices with 500+ employees, with Peyton Manning Children’s Hospital also noted nearby.
The property is positioned in West Evansville’s main retail corridor along Lloyd Expressway, described as having exposure to a combined 28,664 vehicles per day. The asset is surrounded by national retailers including McDonald’s, Chick-fil-A, Walmart, Home Depot, Lowe’s, Shnuck’s Grocery, Aldi, Kohl’s, Starbucks, Chipotle, Culver’s, Verizon, T-Mobile, Olive Garden, Panera Bread, CVS Pharmacy, Taco Bell, O’Reilly Auto Parts, AutoZone, and Valvoline.
The site is located near University of Southern Indiana’s main campus and across from Progressive Health headquarters and medical offices with 500+ employees, with Peyton Manning Children’s Hospital also noted nearby.
Key Highlights
- Freestanding QSR with drive‑thru and a corporately guaranteed absolute NNN lease
- Arby’s Restaurant Group (Inspire Brands) lease includes 7.5 years remaining plus three, 5‑year renewal options
- 8% rental increases every five years and in the renewal options
Property Analytics
Property Profile
Current Use
Lease Details
28,664 VPD
Traffic count
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
582
Businesses Nearby
Explore this area
Business Placement
Demographics for 47712, IN
24,895
Population
10,795
Households
2.3
Avg Household Size
35
Median Age
29%
College-Educated
93%
High-School Grad
62.7 sq mi
ZIP Area
397
Density / Sq Mi
$64,285
Median Household Income
$36,018
Median Earnings
$933
Median Rent
$173,500
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Drive through restaurant - Freestanding QSR with a drive-thru and a corporately guaranteed absolute NNN lease featuring renewal options.
Where is this drive through restaurant located?
The property is located at 4650 University Dr Evansville, IN.
What is the asking price?
The asking price for this property is $2,087,723.
What are key features of this property?
This property features: Freestanding QSR with drive‑thru and a corporately guaranteed absolute NNN lease; Arby’s Restaurant Group (Inspire Brands) lease includes 7.5 years remaining plus three, 5‑year renewal options; 8% rental increases every five years and in the renewal options
